Banking, finance, and taxes
Capital One U.S. Card Delinquencies Edge Higher
Published:
Last Updated:
Delinquencies at Capital One Financial Corp.’s (NYSE: COF) U.S. credit-card business rose in August from the month earlier, while charge-offs slipped, according to a filing with the Securities and Exchange Commission.
The McLean, Va.-based bank holding company said the 30-day delinquency rate for U.S. credit cards rose from 3.09% in July to 3.37% in August. The rate at its international credit-card business fell to 4.77% from 4.78% a month earlier. Auto-loan delinquencies were up to 5.79% from 5.75%.
Charge-offs, or loans banks do not expect to be able to collect, at Capital One’s U.S. card business shrank to 2.58% from 2.62% a month earlier. Internationally, the rate grew to 5.43% from 4.97% a month earlier. And auto financing charge-offs rose to 1.84% from 1.54%.
The full filing is available here.
Earlier this month, it was reported that ING Groep N.V. (NYSE: ING) would sell all of its approximately 54.0 million shares in Capital One in an underwritten public offering. ING acquired the shares as part of a deal in which Capital One ING Direct, its digital banking arm.
Capital One closed Friday at $59.37 per share, in a 52-week range of $36.33 to $59.74. ING ended the week at $8.98, in a 52-week trading range of $5.51 to $10.43.
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.